In today’s world, startups are everywhere you look. I feel as though I have written a blog about a brand new life insurance startup every single month. Entrepreneurs are looking to change and shake up every industry imaginable, and life insurance has been a hotbed for startups for the past few years. One of the latest insurance startups to come out is Singapore Life.
The company has yet to fully open for business, but that hasn’t stopped it from becoming an incredibly popular target for investors. According to a report from TechInAsia.com, the startup has earned a staggering $50 million in Series A investing. The list of investors include IPGL Limited and Impact Capital Holdings, with the latter leading the investment with 33.8% of shares.
What makes the investment so unique is the fact that it is one of the largest investments in a Series A round of fundraising in Southeast Asia in quite some time.
Clearly the startup is turning heads and is making fundraising history. But the question still remains: what exactly is Singapore Life?
As previously mentioned, Singapore Life is an insurance startup looking to get its foot in the door of the multi-billion dollar industry. And that is what makes this situation truly intriguing. There isn’t much else that is known about the company. Singapore Life’s website doesn’t offer any information on the company; it solely features a form offering visitors the opportunity to sign up to learn more. However, the aforementioned article also reports that Singapore Life’s mission is to “provide state-of-the-art, long-term life and savings solutions for customers that value simplicity, safety and security.”
To be frank, it does not seem as though there is anything terribly unique about the company other than the fact that it is drumming up some serious interest. Hopefully the company will come forth with exactly how it offers “state-of-the-art, long-term life savings solutions.” Could it be utilizing cloud-computing? Or perhaps it is using some other form of technology that hasn’t found its way into the hands of other life insurance startups and legacy companies. Either way, until Singapore Life reveals this information, it will remain a valuable mystery.